Plenty of sub-$500,000 investment opportunities on the Central Coast: HTW
The NSW Central Coast property market is looking like a good opportunity to invest $500,000.
The latest Herron Todd White’s market review, which focuses on investment opportunities under $500,000 says of this market: "You might be surprised at the benefits of buying here".
The review suggests “to look into the northern end of the region, included in the Wyong local government area where real estate prices are as diverse as the properties found there.”
These include “older style dwellings in places like beautiful Blue Bay or trendy Norah Head, where you can find “circa 1975, three to four bedroom, single car garage homes, which we think represents good buying,” reports Herron Todd White.
New areas such as Woongarrah, Hamlyn Terrace and Wadalba also provide buyers with fine value homes at prices less than $500,000.
Herron Todd White also reviewed areas such as Summerland Point and Gwandalan which are toward the northern most beaches, saying “they are areas that have threatened to do big things in real estate terms and although they are yet to realise their potential, further development in and around these areas may just provide that kick start.”
Overall, the NSW coastal unit market is looking up with Herron Todd Whites pointing out that “those who have bought units here over the past two years have done well - in fact, $500,000 could easily have purchased two new units at one stage.”
Units that are close to the beach and lake are still selling for under $500,000, and are good area for investment.
“The Entrance is a lovely spot and very popular with day trippers and holiday makers from Sydney,” says the valuation firm.
The southern ends of the region however takes the cake, with areas such as Umina Beach, Woy Woy and Ettalong, leaving investors picking up $500,000 modern three to four bedroom homes with garaging and with “change left over".
“These areas saw high sale volumes in the last round of first home buyer incentives and it has just kept going from there.”
